MBX Biosciences (NYSE:MBX) Shares Up 4.6% – Still a Buy?

MBX Biosciences, Inc. (NYSE:MBX) shot up 4.6% during trading on Wednesday . The company traded as high as $23.53 and last traded at $22.85. 15,491 shares were traded during mid-day trading, a decline of 89% from the average session volume of 144,100 shares. The stock had previously closed at $21.85.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MBX. Jefferies Financial Group began coverage on MBX Biosciences in a research report on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. Stifel Nicolaus began coverage on MBX Biosciences in a research report on Tuesday. They issued a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research report on Tuesday. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Guggenheim initiated coverage on MBX Biosciences in a report on Tuesday. They issued a “buy” rating and a $44.00 price target for the company.

MBX Biosciences Trading Up 1.6 %

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now owns 4,552,774 shares in the company, valued at $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the purchase, the director now owns 3,614,486 shares in the company, valued at $57,831,776. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.